500 Shares in Medtronic plc (NYSE:MDT) Bought by Kieckhefer Group LLC

Kieckhefer Group LLC bought a new stake in Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the medical technology company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic in the third quarter worth approximately $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDT. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Evercore ISI lifted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

MDT stock traded up $0.30 during midday trading on Monday, reaching $80.96. The company had a trading volume of 1,882,046 shares, compared to its average volume of 6,599,088. The firm has a 50-day moving average price of $83.99 and a 200-day moving average price of $84.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $103.81 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.33 and a beta of 0.83. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. On average, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.46%. Medtronic’s payout ratio is 85.63%.

Insider Activity

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.